The Financial Post reports in its Wednesday edition that for all the headlines written recently about how demand for electric vehicles is faltering, the data definitely do not support this. A Bloomberg dispatch to the Post says that sales of passenger EVs are on pace to hit 14 million this year, up 36 per cent from 2022. In the United States, where most of the concerns about demand have been raised, sales are growing even faster and will be up 50 per cent this year. Sales might be short of what some manufacturers were hoping for, but have been in line with Bloomberg's forecast from the beginning of the year, and most industries would be very happy with this kind of growth rate. A slowdown could still be coming, but for now, this looks much more like a winnowing down of who is competitive in the market than a general drop-off in demand. Pure-play EV makers such as Tesla, BYD and Li Auto will capture 7 per cent of the global vehicle market this year, up from just 1 per cent in 2020. Bloomberg adds that many legacy automakers have launched products that are not competitive on price, range or features and will have to go back to the drawing board. Tesla's Canadian-traded shares closed Tuesday at $22.12, up 30 cents.